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. the difference this time around, the economy is better, housing is better, the labor market is better. this time around, i think it is a little different, a little bit better fundamental backdrop. tracy: let's talk about how we can position our bonds for it. >> it is hard to know exactly where this will settle out. the move of two to 40 has been pretty dramatic. we may have already covered a lot of the ground we will cover. on the equity side, i think you have to be overweighted in the u.s. still. i like the domestics of the goals. we are the only major market in the world that is growing and i think stocks here are still reasonably priced. tracy: i know you also like tech. >> the problem with tech is you have to be a little discriminating because as a factor, it derives more of its product overseas than ever. the tech sector, in my view, again, is pretty reasonably valued. tracy: we have to talk about commodities. gold is down. event gold typically down this time of year? >> i would not be getting into gold. i think gold is being washed out as a result of the fed's projections. the rest of the
friends and contacts. and in a good economy, it helps us get a job. there's a reason that tuition continues to rise. parents and kids see there's a real value to having a degree by your name. i think we've got to recognize it's not the education. we get something entirely different of value from going to college. >> mike, there's another reason why college tuition is going up, and that's the government, right? >> well, that's right. first of all, it sounds like john and i shared the same type of college experience. but yes, you're absolutely right. the reason why fewer graduates are earning a return on their investment or their parents' investment is because government subsidies have raised the tuition of college. and at the same time, david, this is the worst economic recovery we've had since the depression. so it's harder to earn that return. >> but steve forbes, even if a down economy, and we are growing at anemic rates, the market still provides some answers, doesn't it? >> it does, david. and what we have here says more about our dysfunctional government than it does about co
the obama economy? this is "special report." good evening, i am chris wallace in for bret baier. investors and traders on wall street are breathing a sigh of relief, thanks to a break from two rough selloff days in the financial markets. chief white house correspondent ed henry reports there's one man that remains on the hot seat, federal reserve chairman ben bernanke. >> reporter: after two days of market melt downs and high anxiety about 401(k)s plunging again, the last thing president obama or his aides wanted to do today was try to decipher the words of the fed chairman, ben bernanke. >> how is the white house sorting out what he said? >> here is what i have to say about the markets and the fed chairman and fed policy. >> reporter: nothing to say. probably smart because the market settled today, with modest gains for the dow and s&p 500 and a small drop for nasdaq, after a two day global selloff for stocks, bonds, and commodities, sparked by a massive credit crunch in china, refusal by communist leaders to intervene by pumping cash into the system, coupled with bernanke's comment that
at discussing world trade and what to do about the ailing economy, the two-year war in syria is expected to dominate. susan mcginnis is in washington. susan, good morning. >> good morning, anne-marie. security is tight at the lakeside golf resort where this summit is being held. along with syria, another topic that might come up is some top-level eavesdropping among foreign diplomats. president obama is in northern ireland to meet with world leaders at the g-8 summit. syria is not normally on the docket but is expected to dominate the talks following president obama's move to ship weapons to rebels fighters. >> there are very big differences between the analysis of what happened in syria and who is to blame. >> russia is noun to have given weapons. president vladimir putin says the rebels in syria are terrorists and barbarians who have even practiced cannibalism. >> are these the ones you want to support? are these the ones you want to supply with weapons? >> president obama and pr putin are expected to hold private conversation this afternoon. the conversation comes after a new report r
economy the war in syria is about to dominate. >>> security is tight at the lakeside golf resort where this summit is being held. along with syria, another topic that might come up is some top-level eavesdropping among foreign diplomats. president obama is on his way to northern ireland to meet with world leaders at the g-8 summit. syria is not normally on the docket but is expected to dominate the talks. >> there are very being differences between the analysis of what happened in syria and who is to blame. president vladimir putin says the rebels in syria are terrorists and barbarians who have even practiced cannibalism. >> are these the ones you want to support? are these the ones you want to give weapon ons. >>> the conversation comes after a new report reveals the u.s. and uk spied on ryu shorthand others at another summit. the "guardian" newspaper says it has evidence that they spired on the london summit of 2009 hacking into smartphones and reading e-mails. the source? edward snowden. >> how much damage he did do? the fact is that time will tell. >> on cbs's "face the nation," ch
, thank you. >> a little background on brazil. it's one of the world's largest economies coming in as number six. it was ninth in gross domestic product, it's expected to grow a 4.2%. inflation is up at 6.7% for the past year. rising rate fueling concerns there may be a another round of interest rate hikes. poverty rate stands at 21.4% with more than 41 million people considered poor. we will continue to follow the unrest in brazil. coming up later this hour, rick grenell the spokesperson for the last four ambassadors to the u.n. he will join us live. >> gregg: immigration reform is debates the turn in spotlight. next week on capitol hill, but can u.s. scenarios behind the bill actually gin up enough support for its passage. elizabeth plann has the story live from d.c. bureau. >> the immigration reform bill starting to take shape in the senate while republicans in the house continue to form what they think is a solution. just as the president says it's a pathway to provide citizenship for folks that wanted to come here and stay here legally while bringing relief to a struggling
that actually is a good balance and works for everyone in this sector of the economy. this bill first creates a way for current undocumented workers to obtain legal status through the blue card program if they've worked at least a hundred workdays or 575 hours from january 1, 2010 through december 31, 2012. all the blue cardholders will receive biometric identification. employers will be required to provide a record of their employment to the department of agriculture as well. and to be eligible, then, for a green card, the workers must have worked for at least a hundred days per year for eight years prior to enactment or 150 days for five years prior to enactment and they also would have to show that they pay taxes on their income that they earn while in blue card status, that they have not been convicted of any felony or violent misdemeanor as well. next, the bill also establishes an agricultural worker program to assign work visas for immigrant workers who don't wish to live in the united states but want to be able to come to the united states to be able to work legally. workers must regis
the buying spree. >>> meanwhile, across the pond they are talking the global economy. the g8 summit is under way in northern ireland, but it's not all about monetary policy. cbs reporter tara mergener on the discussions expected on u.s. wiretapping and syria. >> hello, everybody. >> reporter: president obama and british prime minister david cameron visited a northern ireland school where students are learning about the g8 summit. >> i think i just went outside the lines. >> reporter: but soon, the president and his counterparts turned their attention to the global economy. >> i'm pleased to join these leaders to announce the launch of negotiations on a new trade agreement. >> reporter: the economy is not the only topic at the g8. the civil war in syria is expected to dominate talks including president obama's meeting with russian president vladimir putin. russia supports bashar al-assad and sells him weapons. putin opposes president obama's plan to give military assistance to rebel forces trying to overthrow the government calling the fighters barbarians. >> are these the people you want to
northern ireland for the g8 summit today. the two day meeting is supposed to focus on the global economy but the civil war in syria will be a major topic. >> reporter: president obama and british prime minister david cameron visited in northern ireland at a school where students are learning about the g8 summit. but soon the president and his counterparts will turn their attention to the global economy. >> i'm pleased to announce the launch of negotiations on a new trade agreement. >> reporter: the economy is not the only topic at the g8. the civil war in syria is expected to dominate talks. russia supports dictator al assad and sells him weapons. putin opposes president obama's plan to give military assistance to rebel forces trying to overthrow assad, calling the fighters barbarian. >> and if a meeting wasn't icy enough, the white house is facing questions about allegations the u.s. spied on russian leaders at a previous global summit. >> reporter: britain's guardian newspaper says the intelligence was found in classified documents, former national security agency contractor edward sno
. rohani called for moderation and for reviving iran's economy. in recent years, international sanctions aimed at rean's nuclear program helped fuel rising inflation and high unemployment. rohani presided over nuclear talks with the west between 2003 and 2005. but today the president elect was not support ceasing iranian enrichment. >> we will make nuclear talks more active. this is a problem. solution to the nuclear problem is just talks. neither threats nor sanctions will work. >> ifill: he left open the door to improving relations with the united states. >> the problem complicated and difficult. there's an old wound that should be dealt with with prudence. of course we are not seeking tension or increase can the tension. common sense says our two countries should think about the future more than the past. >> u.s. officials cautiously welcomed rohani's victory but state department spokeswoman said the obama administration wants to see more. >> we look forward to him and are hopeful that he will fulfill the campaign promises he made to the iranian people such as expanding personal
, they can't weaken america. they didn't weaken our economy. they helped build this country, helped build this economy as all of our ancestors did, and that's true of immigrants who want to come here and work and we ought to have a legal avenue that allows these people who want to build a better life for themselves and in the process build a better america, we ought to allow that to happen. this bill in my view doesn't go nearly far enough in accommodating the legal immigration that we could and should have in this country especially with respect to low-skilled workers. i'll be the first to say the bill makes a lot of progress for high-skilled workers, two big areas, the h-1b visas, the cap that has been too low for too long is significantly raised and although we've created hoops people have to go through that are probably unnecessary, it is progress that we have a much higher cap. there's also a new opportunity for graduate students in the stem fields to get green cards in time and that is very, very constructive. these people come here with a great deal of human capital, intellectual c
of the day, which is creating jobs and turning the economy round. that's what the republican party needs to focus on, is getting us back on the right economic road to recovery and making sure americans remember we need to restore the american dream. our current administration is not about that. they're about saying sit back, we'll take care of you and allow you to live and we'll enable you to live a substandard life. we need to put the focus back on that. >> so, what is this all about? forgetting the american dream, common road. we're hearing all these kind of trigger words and language here. sarah palin you know being critical of the obama administration. no surprise there. but what is at the root of what this you know, freedom or this faith and freedom forum is all about in the first place and is it just preaching to the choir or is a message, a common message really resognating? reaching the conservative following? >> about a week before president obama's election in 2008, he said that we were a week away from fundamentally transforming america here, so what's at stake is american exc
. now, wednesday ben reports on the state of the economy. good news for the market is expected. the dow will be up close to 100 points minutes from now. the president is northern ireland at the g8 summit. he's not saying anything about the irs or obamacare, his approval rating is sinking. how about this for a super hero blockbuster. the latest superman movie brings in 125 million dollars over weekend. "varney & company" is about to begin. >> if the world found out who i really was. he was convinced the world wasn't ready. ♪ [ cows moo ] [ sizzling ] more rai.. [ thunder rumbles ] ♪ [ male announc ] whenhe world moves... futures move first. learn f futes from experienced pros with dedated chats and daily live webinars. and trade with papermoney to te-drive the market. ♪ all on thinkorswim. from td ameritrade. all on thinkorswim. a brand new start. your chance to rise and shine. with centurylinks your trusted technology partner, you can ust that. th our visionary cloud infrastructure, global broadband network a stom communications solutions, your business is more rele - secure - ag
while ago about the two countries' needs to work closely together for the sake of the world economy. >> overall, germany is our largest trading partner in the eu so we have a profound stake in each other's success. we agree that there's more work to do. not only do we have to grow, but we also have to reform our economies structurally. >> the president also took time to defend u.s. surveillance programs saying they have averted at least 50 threats and saved lives in the process. mr. obama's berlin visit comes almost 50 years to the day it was june 26th, 1963, when president kennedy delivered his anticommunism speech with the well known phrase, "ich bin ein berliner." >>> house republicans want to make it a federal crime to be in the u.s. illegally. a republican-based house economic voted yesterday to pass a bill boosting criminal penalties against anyone who is not a citizen. republicans say the bill is necessary to uphold enforcement of the law. democrats say it's too dangerous and are especially disappointed as the senate plans to work on an immigration bill to provide citizenship
wages. as the economy slowly recovers, many of the new jobs are concentrated in low-wage areas like fast food restaurants. nbc news reporting on poverty in america, supported by the ford foundation and in tonight's "in plain sight" report, you may be surprised to learn who some of these folks are and what it takes for them to feed their families. we get our report from nbc's kevin tibbles in chicago. ♪ we serve it up with a smile >> reporter: for many, this is the face of the fast food industry, happy young kids flipping burgers after school. but these days that person taking your order for minimum wage is much more likely to be older. >> we can't afford to live on what we make. >> reporter: people like 56-year-old interior designer amy crawford, who now works behind the counter for $8.75 an hour. >> i would have described myself as very comfortably middle class. >> reporter: and now? >> and now i'm getting by. >> reporter: crawford says she has been seeking a job in her field over a year, dipping into retirement savings to pay the rent, and relying on food stamps. >> these folks use f
of the eight world -- the eight largest economies in the world, or eight of the nine largest economies in the world if you will. what's interesting here is there's a split. you have the old g-7, the western powers on one side of the syria issue and russia on the other. president obama and the russian leader vladimir putin have their own one on one meeting later this afternoon. it's likely it's going to have a cold war-like tension to it. if you think about what happened between vladimir putin, david cameron, the prime minister of the uk, the meeting they had yesterday, that didn't seem to go so well when the issue of syria came up. it's hard to believe that it's going to go any better when the two presidents of the u.s. and russia meet for what is expected to be a lengthy and perhaps tension-filled bilateral meeting. >> thank you, chuck. >>> one topic sure to come up at the g-8 summit are those newly disclosed nsa surveillance programs. the man at the center of the leak edward snowden still in hiding as officials say he could reveal more top secret documents. former vice president dick
's not because of gas prices. aaa cites instead the sluggish economy and says people are just taking less time off. >>> microsoft reverses course on its new xbox one game console. users will now be able to play games offline without having to be connected to the internet. thaibl able to lend and sell used games. the xbox one goes on sale for $499. >>> and there could be more red arrows today on wall street after markets got slammed wednesday following comments by ben bernanke that the federal reserve may soon start scaling back its economic stimulus programs. if the economy keeps improving. but bernanke says that doesn't mean an interest rate hike is imminent. richard, back to you. >> kayla, thank you. >>> the country's second largest school system plans to order ipads for every student. the los angeles board of education approved a $30 million multi-year purchase. the first order, 31,000 ipads. the district has some 640,000 students, grades k through 12. the names george zimmer may not ring a bell but this ad certainly will. >> you're going to like the way you look. i guarantee it. >> zimmer
the economy. today rouhani signaled a new more open approach. "we are ready to show more transparency to the world" he said. rouhani is 64 years old, a cleric with a law degree from scotland. he's also known as a bridge builder who was once iran's chief nuclear negotiator. in 2003, he put that program on pause to pave the way for talks with the west. sir richard dalton, back then britain's ambassador to iran, said rouhani could steer the way to talks again. >> provided by the united states and its negotiating partners come forward a little way to meet iran it should be possible to get a first stage confidence building agreement on the nuclear question. >> reporter: asked specifically today about iran's relations with the united states, rouhani said "there's an old wound between the two countries that needs to be healed." jubilant iranians spilled into the streets to celebrate rouhani's win. although they won't know for some time just how much of a reformer he turns out to be. >> pelley: elizabeth palmer is joining us from our london bureau. elizabeth, if this is reform, why is it happ
the president and his counter parts turned their attention to the global economy. >> i'm pleased to join these leaders to announce the launch of negotiations on a new trade agreement. >> the economy is not the only topic at the g8. the civil war in syria is expected to dominate talks, including president obama's meeting with russian president vladimir putin. putin opposes president obama's plan to give military assistance to rebel forces, calling the fighters barbarians. >> are these the people you want to support? are they the ones yo you want to supply with weapons? >> if the meeting between the two countries wasn't icy enough, the white house is facing questions about allegations the u.s. spied on russia leaders at a previous global summit. >> britain's guardian newspaper said the intelligence was found in classified documents edward snowden leaked. the paper says at the 2009 g20 summit in london the u.s. intercepted messages from the last russian president. it's no secret the u.s. and russia spy on each other but now it will make it harder to find common ground. >> the guardian says
they may buy back bonds later this year because the economy in their view could be improving. this has all kinds of implications especially for interest rates. they kept artificially low fuelling the rebound of real estate prices for instance they helped fuel the slow recovery. >> i think the market is saying the fed believes this economy to be stronger than we do. but we don't believe you that if you take away the stimulus this economy won't be able to stand on its own two feet. until we see otherwise we are going to be concerned that this low trajectory economy can be at risk of dangerous down draft. >> we knew it would impact sometime that the fed would have to dial back on the bond buying spree 85 billion a month taking the foot off the it was pedal. the food news these can lead to buying opportunities. may be something of a rebound today. dow futures are up. >> doug luzader live in washington, thank you. >> it is the first day of summer and we are kicking it off with extreme weather. >> maria molina is in our weather center tracking heavy rains in parts of the country. hi maria. >> go
ourselves, be able to have that kick start, to come in, into the local economy, and, therefore, make an struinstrumental differ. >> reporter: today is the start of national small business week. treasury secretary jacob lew came by the company. he took a tour of the facility and got a chance to see how critical small businesses are to helping the local economy, especially in our region. >> show other women, show other minorities that you can do well in this business, that there are opportunities, and that if you stick with something and you persevere, that you will be successful. >> the idea of dreaming, of becoming manufacturers, it was a dream that when we would talk about it out loud, everyone around us would just squash it. >> reporter: without the small business loan, this $60 million-plus company never could have flourished without the help of local lenders. >> you have the sba, you have the treasury. you have local community banks who believe in us. >> reporter: there's a lot that encompasses a small business. i was talking to the owners this morning. one thing they were talkin
of eight summit is supposed to center around europe's ailing economy. but as cbs reporter susan mcginnis reports another topic is expected to draw attention. >> reporter: president obama left air force one holding daughter sasha's hand. for the next two days, he will meet with world leaders here in northern ireland which he sees as an appropriate place to talk peace. >> beyond these shores right now in scattered corners of the world there are people living in the grip of conflict. you're their blue print to follow. we're the proof of what's to follow. >> reporter: russian president vladimir putin says president obama's plan to arm rebel fighters who he calls barbarians will hurt the chances for peace in syria. >> are these the people you want to support? are they the ones you want to supply with weapons? >> reporter: president obama and president putin are scheduled to hold private talks this afternoon. the conversation comes after a new report reveals the u.s. and the uk spied on russia and others at another summit. the british newspaper the guardian says former nsa contractor edw
than 500 points lost in 48 hours as economists tell us that the economy is finally on the mend. what's going on here. rebecca jarvis leads us off. >> reporter: today's big drop is part of a roller coaster week for your money. the dow up or down triple digits every day. so what's driving the volatility? actually, good news. >> we are stronger, we are. our economy is getting better. >> reporter: the best month for existing home sales in three and a half years. and improvement in jobs. all of this means there's less need for this man, fed chairman ben bernanke to keep pumping billions into the system. >> the easiest way to say is that we have had training wheels on our economy for quite some time now and now we're getting word that these training wheels are going to have to come off, slowly come off and we're going to see if we >> reporter: the uncertainty also leading to higher mortgage rates, now above four percent for the first time in a year. but still some of the cheapest borrowing in history. for example, in california, the turnbull family can buy their dream home for about $2,000
question, will the stock market rebound after disappointing reports about the economy. the dow plummeted about 106 points friday. it starts this morning still above the 15,000 level. the nasdaq was down by almost 22. good news for school employees in maryland, they would receive pay raises under an agreement being voted on this week. the county school board is scheduled to vote wednesday. one measure to give salary step increases cost adjustments to thousands of employees on the table. the cost of living pay raises would take effect july 1. >>> today the u.s. secretary of energy will greet the crew of the solar impulse near dulles airport. the solar power plane landed at dulles yesterday. this is the fourth leg of a cross country flight powered only by the sun. you see it there. the plane is the brain child of two swift pilots. it has 12,000 solar cells built into the wings, they weigh as much as a small car. the plane valves just 43 miles per hour. its journey began may 3rd in northern california, the final leg will be from here to new york. >>> firefighters think they'll get the worst
which will have a terrible impact on state and local economies. going back to when the government tries to implement compassion it will always be done on a political basis. i want to speed up because we want to leave time for discussion and our other panelists. i want to give you an example how this happens. i heard this great example. think about a mother who steals to feed her children. she goes to children. her children end up in foster care. we have sympathy and there is the terrible situation, where is the outcry for amnesty for such a person? where the outcry for family reunification for someone broke the law. it is not there? why? because she is not a member of desired political block people in washington trying to garner favor for. that is to go back to let individual discuss 19 we get mandate for compassion. go next to verse 34, right after the mandate that we exercise kindness to strangers, it also prohibits unjust weights and measures. that is what this bill is. it is an unjust weight and measure. we need to take the things into consideration. i could go on. this bill also, a
in the local economy generated by the store and new jobs it creates. it has a multiplier effect. to know that this works, we need to look at pennsylvania. a similar program that began there in 2004 resulted in 88 projects being built or renovated in underserved urban and rural communities across the state. today, more than 5,000 jobs have been created and i know we all want to create jobs, and 400,000 people now have increased access to healthy foods. 30 million invested by the state has resulted in projects totalling more than $190 million. the pennsylvania program success rate has been better than the grocery industry overall. federal, state and many city governments are enacting legislation and policies to attract healthy food retail. this is tremendous momentum around the country right now to bring grocery stores to places that need them. also a diverse group of nearly 100 stakeholders support this bill, including policy link, the food trust, the national grosser's association and newly rouse agricultural, civil rights support this bill. the senate supports this -- the senate has rec
that it would be good for dairy farmers in the northeast who are such an important part of our economy. but i cannot and i will not support this farm bill as it is currently written. i cannot support a bill that cuts the snap program by $20.5 billion. i cannot support a bill that will force two million americans to lose their benefits. i cannot support a bill that throws over 200,000 american children off the free school breakfast and lunch program. in short, i cannot support a bill that will make hunger in america even worse than it already is. right now as we speak, as we gaggetser here, there are -- as we gather here, there are 50 million hungry americans, 17 million of them are children. many of them work but do not earn enough to make ends meet. all of us, every single one of us in this chamber should be ashamed by those numbers. food is not a luxury. it is a basic necessity. but there isn't a single congressional district in america that is hunger-free. ending hunger in america used to be a bipartisan issue. to my republican friends i say, remember the work of people like bob dole and b
, a world economy in turmoil. derail america's economic comeback. christine romans has answers. "your money" starts right now. >>> another week of volatility in the markets. the reason, we global unrest and uncertainty about the fed's role in propping up the economy. i'm christine romans, this is your money. from space, earth appears peaceful. take a closer look. while signs point a u.s. economy ready to take off, the rest of the world is struggling to take flight. riots in turkey. slowing growth in china. unrest over harsh cuts in greece. from extreme greed to extreme fear. concerns over
from breaking away from oil-rich psychos who have us under their thumbs. it prevents our economy from growing by fracking and it leads to corruption in green energy, which is nothing more than the mafia with hemp. >> david, seriously, he was in berlin and he wants to talk about climate change? >> this is called governmenting by fox checking. nuclear disarmament, check. climate change, so important that this speech was given in the fifth year of his two terms. these are all things that he's talking about in europe that are never going to get done here. what he could do that would be an amazing thing for america would be the keystone pipeline. and also a universal rule for natural gas fracking, which would allow us to actually not just change our economic position in the world, but our socioeconomic position and the power. bob isng so miserable. >> but i do think that it was, it really was just, okay, i've got to get this off my plait, hollywood's breathing down my neck, i'm going to talk about climate change so everybody here in berlin will give me a high fall. >> i'm going to call my
legally while bringing relief to a struggling economy. >> this bipartisan common sense bill will help the middle class grow our economy and shrink our deficits by making sure that every workinger in america practice plays by the same rules and pays taxes. >> senators introduced a bill that would bolster border security. the measure includes 700 miles of fencing along the u.s.-mexico border with the addition of tens of thousands of border agents. it also enforces a nationwide everify system and needs to be in place before illegal immigrants can apply for green cards. with all the support it has, there is still no guarantee this will fly through the senate before the fourth of july recess. >> this current bill is a mess. it is repeating the same failed pattern we saw in 1986. today instead of 3 million people, we're dealing with 11 million people who are here illegally. and what congress is saying is the exact same deal, which is legalization first and then they're promising maybe some day in the future the border will be security. >> senate leaders took a crucial test vote on this plan
recovering in the housing market or the economy overall, i don't think they will do anything. connell: not so much we have come to terms, it is just we don't think it is going to happen. you would remain pretty optimistic about the stock market. >> i am. it actually targeted june 11 and 12th. i thought the backdrop was going to be out of the german constitutional court hearing objections to the constitutionality of the european stabilization mechanism. it turned out to be japan. maybe underinvested crowds pay up for investment reasons, and in the process of putting in a pop that would put in the first decent pullback this year the july, august timeframe. connell: we will need to see some sort of decent pullback. where is that??% what is the intermediate topic you're talking about? >> $16.87 on an intraday print high, the other downside reversal day simultaneously you hit the upside reversal in the japanese yen against the u.s. dollar causing some issues. will try do trade backup to that high. if we turn down, you will get a premature turn back but we should make a slightly higher high and som
it could have a greater impact on the worldwide economy than all other current trade agreements combined. >>> great news for ravens fans. for the second year the team is holding three free individual practices. the first practice is august 4th at the naval academy. then at m&t august 11th. both of these practices are open to the public. the ravens will also hold an open practice at stevens university on august 18th. because of limited seating fans must enter a lottery to get tickets. this does not mean you can try out for the team. that's different. got to get your agent to contact them. >> it's nice they're having these open practices. nothing can be as great as the college dome. that was such an amazing experience. >> i'm glad i had a chance to go out there. >> a lot of fans. they were like a couple yards away from you. >> it was incredible. >> this will do. >>> still ahead on eyewitness news at 4:00, you messed with the wrong woman. how a mother protects her children from an armed man hiding inside her car. >> the stand off over julian as asam. the latest on the wikileaks leak. >> a
the detention facility at guantanamo bay, cuba. the latest data on the u.s. economy left something to be desired today. factory output barely rose in may, and consumer sentiment fell in june. wall street reacted with a friday sell-off. the dow jones industrial average lost nearly 106 points to close at 15,70. the nasdaq fell nearly 22 points to close at 3,423. for the week, both the dow and the nasdaq lost more than 1%. those are some of the day's major stories. now, back to judy. >> woodruff: today the city of detroit, and its creditors, were presented with a series of painful options. retired city workers were warned of significant cuts in pensions and health insurance and creditors were told the city won't be able to pay them back. the day started with an announcement that the government already defaulted on some debt. it got worse from there. ray suarez has the story. >> make the banks pay. >> suarez: a handful of protesters picketed outside the westin hotel this morning, while inside, detroit's emergency manager kevyn orr laid out a last-ditch plan to 150 creditors to accept pennies on the
must work together to create jobs, to strengthen the middle class and to grow the economy. our -- yet once again republicans refuse to listen. instead we are debating legislation that endangers women's health and that disrespects the judgment that the american women and their doctors on how to make judgments about women's health. this bill would deny care to women in the most desperate circumstance. sad and desperate circumstances. it is yet another republican attempt to endanger women. it is disrespectful to women. it is unsafe for families and it is unconstitutional. at the start of the congress, the republicans take great pride, and we join them in that pride in reading the constitution, start to finish. it's a great day. it's a great document. but then the republicans proceed to ignore it. one example, this clearly unconstitutional bill. each day republicans claim they want to reduce the role of government except when it comes to women's most personal decisions about their reproductive health. leading groups of medical professionals and experts across the country believe that this
we'll leave in place a disaster, a de facto amnesty disaster that's hurting our economy, sovereignty, our security. >> sean: the reason for the distrust every time we hear there's going spending reined in and tax increases american people seem to get the tax increase but never get the spending cuts. i guess you understand the distrust. >> do i. that's why those things are linked. that's why the permanent residency with the green card -- that won't happen unless these border provisions happen first. >> sean: can i just get you maybe to reiterate, because there's been so much debate about this. you're saying you're pretty confident tomorrow that the border will be secure first with triggers before there's any path to legalization? >> before there's any path to permanent residency, permanent legal residency. you have 11 million people living here right now. we have to run them through a background check and start paying taxes and pay a fine. but that's not permanent. that's a temporary work status. the only difference between what they are doing now and what i'm proposing they have to p
ireland's economy here in the last decade ever since the peace process between ireland and northern ireland. it just -- the country -- the province has gotten off to a slow start. but then after he does that speech that is directed to locals, it's beginning to the g-8 summit. and the issues here are going to be interesting in this respect when it comes to syria. you essentially have the old g-7 plus russia. russia, of course, was added to the g-8 a few years ago, and they're sort of isolated when it comes to syria. president putin is on the side of bashar al assad. he's been helping shar al assad with arms. putin had a one-on-one with british prime minister david cameron. that didn't go so well, he seemed to lecture the allies and what they planned to do with syria. syria is going to be a hot you topic. and what the consensus is. and is there consensus between the u.s., the brits and the french on what to do next with syrian opposition. >> nbc's chuck todd there in belfast. chuck, thank you. >>> and one topic sure to come up at the g-8 summit are the newly sclofd nsa programs. the m
. new at 6:00 we asked len ramirez if the silicon valley economy is humming, why so many layoffs? len? >> reporter: well, for some companies, it's humming along. for symantec, unfortunately, it is not. symantec officials are not officially commenting on the number of layoffs but it is expected to be very significant. and when a company this size does something like that, it has definite ripple effects throughout the local economy. it is one of the biggest and most well known companies in silicon valley. >> symantec. >> reporter: a coffee roasting manager knows many of symantec's 21,000 workers as regulars and friends. >> hey, how's it going? >> reporter: her shop is just two blocks from the sprawling symantec campus and takes in about 10% of its sales from symantec catering orders and walk-ins. >> to 7:30 it's like line out the door sometimes both ways. >> reporter: now she is afraid the lines and the business will begin disappearing. symantec is in the middle of a companywide transformation and reorganization that will reportedly cut 1700 jobs, potentially one of the big job upheaval
that the u.s. economy is on the road to recovery. baby boomers are fueling rv sales. the motor home business hit a detour during the last ut now r vehicle sales apparently are up over the years. so what does this mean for the larger economy? let's bring back brenda buttner, senior business correspondent and anchor of "bulls and bears." thanks for coming back. >> absolutely. >> what is driving these numbers? they're up over the past year. >> they're up tremendously. right now nine million american households own rvs, that's the highest level ever. it's a $14 billion market in the u.s. but essentially you need a lot of confidence to buy a gas guzzling home on wheels. so what this is basically saying is that consumers are confident. essentially rv sales, they kind of anticipate a recession, but they also can foreshadow a recovery. so these sales show that perhaps we're on the road to recovery. >> because when sales bottomed out, it was due to a number of factors. like gas prices -- >> yeah. they didn't just bottom out. they went over a cliff from 2006 to 2009 motor homes, rv sales, fell 60%. th
. and then tomorrow, fed chief ben bernanke will talk about the economy. investors are hoping he'll clarify what he said last month about the fed possibly dialing back it's bond buying program. >>> ahead of that federal reserve meeting, tokyo's nikkei lost a quarter percent while hong kong's hang seng was mostly flat. >>> on monday, investors guessed the central bank will prop up the economy. so the markets went up. the dow climbed 109 points, while the nasdaq rose 28 points. >>> standard & poor's lowered ford motors stock from buy to hold. the market index claimed ford's losses in europe which are expected to reach $2 billion this year. but s&p did say pickup sales in the u.s. should help the automakers see strong profits. >>> a big coup for netflix. starting next year, they'll be joining forces with dreamworks. the agreement is said to include 300 hours of new tv episodes. financial details have not been released but it's expected to be worth several hundred million dollars. the deal will help netflix compete with premium channels like hbo and showtime. >>> and homemade never looked so good. many
reserve, ben bernanke moved the markets today with highly anticipated remarks about the economy. he said the economic outlook is improving, unemployment is falling and expected to fall further as a result, the federal reserve will likely ease up on buying bonds, but that could drive up interest rates, including mortgage rates, which are at historic lows, wall street shuttered with the news. stocks fell more than 200 point. >>> still ahead for us tonight, the story that inspired an oscar-winning film and now a real-life drama with one of the more feared men in america on trial for murder. >>> inspiring bond for life, once perfect strangers, brought together in an extraordinary act of heroism on a bad day in this country. brought together in an extraordinary act of heroism on a bad day in this country. when i first started experiencing the pain, it's, it's hard to describe because you have a numbness... but yet you have the pain like thousands of needles sticking in your foot. it was progressively getting worse, and at that point i knew i had to do something. when i went back to my healthc
program. after a two-day policy meeting wednesday the fed updated the outlook for the economy and bernanke said that's why the fed will most likely slow down its stimulus program. >> the committee currently anticipates it would be appropriate to moderate the monthly purchases later this year and if the subsequent data remain broadly aligned with current expectations for the economy, we would continue to dries the pace of purchases in measured steps through the first half of next year, ending purchases around mid-year. >> bernanke also expects the unemployment rate to fall to 6.8% by the end of 2014. on wall street bernanke's words spooked investors. the dow dropped 206 points and the nasdaq fell 31 points. >>> tokyo's nikkei dropped nearly 2%. hong kong's hang seng lost nearly 3%. >>> well, the irs is caught in another controversy. the agency says it's has to pay $70 million in union bonuses. some republicans want the irs to follow a white house directive and cancel them. in april the obama administration ordered all agencies to stop handing out bonuses bought of automatic spending cuts. >
but it's not because of gas prices. aaa says the sluggish economy and people are taking less time off. >>> microsoft is reversing course now on its new xbox one game console. users will be able to play games offline without having to be connected to the internet at all. they'll also be able to lend and sell used games. it goes on sale this fall for $499. in the market, stock futures are lower after they got slammed wednesday following comments by ben bernanke that the federal reserve may soon start scaling back its economic stimulus programs. that's if the economy keeps impruchg bernanke says that doesn't mean an interest rate hike is imminent. we will, though, be watching the markets all day today. >>> homeowners can expect to pay a little less to keep the ac on this summer. according to the u.s. energy information administration, milder weather is predicted for the summer to help give some relief to those power bills. the average homeowner can expect to pay about $395 for june, july and august. >>> the second largest school system in the country plans to order ipads for every studen
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